The Nigerian economy was once described as a “voodoo” economy, “the more you look, the less you understand” as it defies all kinds of known remedies. The mystery of Nigeria as a nation is not limited to its economy but includes socio-political and cultural dispositions. Longtime ago, western pundits postulated, hypothesized, and predicted the disintegration of Nigeria by the year 2015. Time has since revealed their empty prediction; regrettably, however, the nation is still sliding into the abyss of squalor and poverty, exacerbated by the population explosion – a kind of time bomb that must not be allowed to detonate.
Browsing: CBN
Some bank customers in Sango-Ota have appealed to the Central Bank of Nigeria (CBN) to sanction money deposit banks that are not paying the maximum of N20,000 to customers over the counter.
Residents of Bauchi have continued to lament over scarcity of the new Naira notes as they were unable to get cash from counters in banks, Automated Teller Machines (ATMs) and Point of Sales (POS) in the state.
The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), an umbrella body of Nigerian pastoralists, has urged the Central Bank of Nigeria (CBN) to mainstream the interest of pastoralists in the implementation of cashless policy.
President Muhammadu Buhari says he will interrogate the Central Bank of Nigeria (CBN) and other government agencies involved in the printing and distribution of new Naira notes in the country.
The Southern and Middle Belt Leaders Forum (SMBLF) says the shortage of new naira notes as a result of currency swap is causing untold hardship on Nigerians.
The Coalition of Northern Groups (CNG) has restated its demand for the immediate reversal of the cash withdrawal limit policy of the Central Bank of Nigeria and the time set for the exchange of old naira notes saying Nigerians should no longer be expected to continue to tolerate the high handedness of the Governor of the CBN, Godwin Emefiele that is already pushing the nation to the brinks.
ASHENEWS reports that President Muhammadu Buhari has told the governors on the platform of the All Progressives Congress (APC) that “There will be a decision one way or the other in the remaining seven days of the 10-day extension.”
The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to avoid a repeat of the 1984 experience when Nigerians were made to face undue pressure over monetary policy.
ASHENEWS reports that the Governor of the Central Bank of Nigeria (CBN) has revealed why the January 31, 2023 deadline for the validity of the old N200, N500, and N1,000 notes, cannot be changed.